New Buyer Employees definition

New Buyer Employees means the Current Employees employed by Buyer from and after the Closing.

New Buyer Employees shall have the meaning set forth in Section 5.8.

New Buyer Employees means the Business Employees who commence working with Buyer on the Local Transfer Date or continue to work with an Acquired Company on the Local Transfer Date or are treated as continuing in employment by application of the Transfer Regulations.

Examples of New Buyer Employees in a sentence

• All Buyer Plans and Buyer severance pay plans, programs or practices shall recognize all credited service of New Buyer Employees with PKI and its subsidiaries for purposes of eligibility and vesting and level of benefits to the same extent such service was recognized under similar plans maintained by PKI or its subsidiaries immediately prior to the Closing Date, provided that the foregoing shall not apply to the extent it would result in a duplication of benefits for the same period of service.

• The Buyer shall make appropriate arrangements to allow the use by New Buyer Employees of any amounts available under any cafeteria plan or flexible spending account (as defined in Section 125 of the Code) which was maintained by the Seller or any of its Affiliates for such New Buyer Employees.

• For the avoidance of doubt, all provisions relating to severance benefits to be paid with respect to New Buyer Employees after the Closing Date shall be governed by the provisions of Section 9.3(d) of this Agreement.

• Seller shall be responsible for all costs relating to the continuation of health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) under Seller’s group health plans, with respect to present or former U.S. Business Employees who do not become New Buyer Employees.

• Between the date hereof and the Closing, Buyer and Seller shall agree on the terms of a transition agreement (the “Transition Agreement”), to be entered into by the Parties at the Closing, pursuant to which (a) New Buyer Employees will continue to participate in certain welfare benefit plans of Seller, at Buyer’s cost, through December 31, 2005 in accordance with Section 10.4(d), and (b) Seller will provide certain transitional information technology services to Buyer at Buyer’s cost.

More Definitions of New Buyer Employees

New Buyer Employees has the meaning given such term in Section 7.2(a).

New Buyer Employees means the Business Employees who commence working with Buyer or an Acquired Company or Business Subsidiary on the first day after the Closing Date or continue to work with an Acquired Company or Business Subsidiary on the first day after the Closing Date. With respect to any Business Employee whose employment will terminate in connection with the transactions contemplated by this Agreement, Parent shall pay, or cause to be paid, to such Business Employee the cash value of any vacation time or other paid time off that such Business Employee has accrued but not used as of the date of such Business Employee’s termination of employment. Section 9.4 shall apply to Business Employees employed outside the United States to the extent practicable, provided that Buyer shall in any event comply with applicable law and any Acquired Company agreements covering such employees.

New Buyer Employees means each Asset Seller Business Employee who accepts the Buyer's offer of employment and who commences working with the Buyer on the Closing Date and each employee of any Business Subsidiary on the Closing Date.

New Buyer Employees shall have the meaning set forth in Section 5.1.

New Buyer Employees means the Business Employees who become employed by Buyer or its Designated Affiliates on the Closing Date or continue to work for a Business Subsidiary on the Closing Date. Buyer or its Designated Affiliates shall assume all Remaining Employee Expenses for all Business Employees employed on the Closing Date, including those on vacation, military leave, leave of absence (whether paid or unpaid), disability or layoff, who do not accept an offer of employment or who object (whether before or after accepting transfer to Buyer or its Designated Affiliate) to a transfer of their employment pursuant to local Laws (collectively, the “Remaining Seller Employees”); provided, however that in the case of Remaining Seller Employees of PKI Germany (the “German Remaining Employees”)

New Buyer Employees means the Business Employees who commence employment with Buyer or any of its Affiliates on or during the five (5) day period after the Closing Date. The employment of each New Buyer Employee shall be accomplished in such a manner that the New Buyer Employee’s employment shall be considered continuous and uninterrupted employment under applicable Law. In addition, Buyer acknowledges that it is a “successor in interest” for purposes of applicable employment and employee benefits Laws with respect to the New Buyer Employees, including the Family and Medical Leave Act of 1993, as amended, and the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended, but excluding the Consolidated Omnibus Budget Reconciliation Act of 1986 and any similar applicable Law and ERISA.

New Buyer Employees has the meaning ascribed to it in Section 6.1(b).